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ABSLI Life Shield Plan?

ABSLI Life Shield Plan is a non-linked non-participating term insurance plan. ABSLI Life Shield comes with multiple plan options. It is a simple, affordable and online term insurance.

Through Aditya Birla Sun Life Insurance Life Shield Plan , you can provide financial security to your family members even when you are not there. If you die during the policy term, the sum assured is provided as death benefit to your nominee.

Features Of ABSLI Life Shield Plan

Features of ABSLI Life Shield Plan are as follows-

This plan comes in 8 plan options to suit different protection needs.

This plan offers you high life cover at the lowest premium rates.
In this you get many options for premium payment. You can pay the premium yearly/half-yearly/quarterly/monthly as per your convenience.
This plan gives you the option to increase your insurance cover at key stages of life.
The plan offers return of premium facility on maturity. You can get back all the premiums paid under the Return of Premium option.
You can buy this plan both online and offline.
This plan offers you 3 claim payment options to choose from. E.g. Lump sum payment/Different payments with fixed annual income/Different payments with increasing annual income etc.
In this you get the option of covering your spouse under the same policy.
Option to enhance your insurance coverage with rider options.
Waiver of premium benefit is provided in case of disability or disease.

Benefits Of ABSLI Life Shield Plan

The following are the benefits of ABSLI Life Shield Plan :

Death Benefit:

In Aditya Birla Sun Life Insurance Life Shield Plan (ABSLI Life Shield Plan), death benefit is paid to the nominee in case of death of the life assured during the policy term. Death benefit is the Sum Assured on death less the Terminal Illness Benefit paid earlier. The policy is terminated after the death benefit is paid.

This benefit will be whichever is higher-

10 times of the Annualised premium for all ages; or
105% of all the Total Premiums paid as on the date of death; or
Absolute amount assured to be paid on death.

2. Maturity Benefit:

In Aditya Birla Sun Life Insurance Life Shield Plan (ABSLI Life Shield Plan), no benefit is payable on maturity if the life assured survives till the end of the policy term.

But if you have opted for your Return of Premium plan option then you will be paid the sum of all the premiums on the maturity date of the policy and thereafter the policy will be terminated.

Waiver of premium on Total and Permanent Disability (TPD):

Under this, all future premiums are waived off in case the life assured suffers from total and permanent disability during the policy term.

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